Director Shareholding

Crest Nicholson PLC
17 May 2005


On 16 May 2005, the following directors purchased shares under the Company's
Share Incentive Plan:


Director                        Shares purchased     Matching Shares to Director

P. Callcutt                                   33                              16

D.P. Darby                                    33                              16

S. Stone                                      33                              16

The shares were purchased at a price of 383.15p and will normally vest after 5
years.


                      This information is provided by RNS
            The company news service from the London Stock Exchange